Chapter 7 Bankruptcy, The Basics-Lawyers Modesto

A Chapter 7 bankruptcy is the easiest way to get rid of all your debt and start over. The person filing the bankruptcy is referred to as the “debtor” and they usually can keep everything they own. This includes their furnishings, clothes, retirement, cars, house, and even cash. There is a limit on some of the property they can keep, but few debtors exceed it. The Modesto lawyers at the law office of Ben Roberts focus their practice on helping people get debt relief. Our staff is knowledgeable and willing to help our clients get through their tough times. We offer personalized service where you get to meet with the attorney face to face. Contact us for a free consultation today.

At the law office of Ben Roberts, we can help you understand the bankruptcy process and how the laws apply to you.

You should take advantage of our free consultation and figure out whether bankruptcy is right for you. Often times the key to solid credit is a fresh start.

Certain Debts Are Non-Dischargeable-Modesto Bankruptcy

In Bankruptcy certain debts are non-dischargeable such as: spousal or child support, DUI debts, most taxes, debt arising from fraud or crimes, etc. In California, debtors are allowed to “exempt property” which means they can protect their property from creditors and the trustee who is representing them. Let’s say for example a debtor has in his possession stocks, bonds, checking and savings. He will certainly want to exempt all of these assets so that he can keep them for himself and not have to give them to the creditors. There are limitations to these exemptions which is why you should speak to a Modesto attorney at the law office of Ben Roberts before filing your bankruptcy petition.

Taking the Next Step-Modesto Lawyers

A lot of people have a hard time with the fact that they are filing for bankruptcy. They come into the law office as if their life is over. After the process is over, invariably, these same people now feel as through their life has just begun. Credit card companies put out a lot of advertising to make bankruptcy appear as if it is a horrible thing. In fact, just the opposite is true. Filing for bankruptcy restarts credit by giving people the clean slate they need. Most people don’t pay their bills because they are unable to, not because they don’t want to. Once all of their debt is erased, they find it easy to stay on top of their bills and rebuild credit. Amazingly enough, most people that can’t qualify for a loan to purchase car, qualify immediately after a chapter 7 discharge. It’s not uncommon to have a 700+ credit store within a year or two after filing. Basically, if you are having credit problems, bankruptcy may answer to having great credit.